News and Articles About Wal-Mart
Jet, with its ability to lower prices as customers add more items to their shopping carts, will help the world's largest retailer reach more customers, including millennials.
Macy's, Wal-Mart and Target should all consider structuring its websites like Amazon.
Mergers and Acquisitions
Had Jet grown into the company some hoped it would, New Jersey would have an anchor tenant that attracted other innovators.
The deal would help Wal-Mart better compete with Amazon.com and other online retailers.
It was not clear how much Wal-Mart would pay, but Jet.com could be worth as much as $3 billion.
This is also part of Wal-Mart's broader strategy to strengthen its e-commerce business at a time when its online sales growth is slowing.
The company had announced a slew of programs, including online grocery pick up and a partnership with ride-hailing app Uber to deliver groceries as it looks to boost online sales.
The deal will see the U.S. grocery giant swap its Yihaodian platform for a 5 percent stake in JD.com Inc., worth about $1.5 billion by the firm's latest market value.
The world's largest retailer raised wages for its hourly workers to $10 per hour earlier this year, but labor groups have called the raise inadequate.
Chief Executive Officer Doug McMillon spoke about initiatives such as online grocery pick up, the retailer's two-day shipping program and its mobile wallet, Wal-Mart Pay.
The world's largest retailer said it would begin test deliveries within the next two weeks in Denver and Phoenix.
Banks and payment network operators are favoring the use of chip cards verified by signatures
The retail giant wants to put smiling faces back at its entrances to curb theft and boost sales.
Implemented last year, the measure had increased the tax for on-island companies with more than $2.75 billion in revenues that buy goods from off-island 'related parties' to 6.5 percent from 2 percent.
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© 2017 Entrepreneur Media, Inc.